HOLY SHIT.
someone just splurged 23 btc on mintpal and wiped that 17btc sell wall at 450k satoshi
...aaaaand another exciting day in DRKland has begun
Now seriously some of these BTCs can't be legit. Earlier the price was 0.0039 both Mint and Cryptsy... a guy comes along at Mintpal and throws like 20-30 BTC buy order at 0.0045. Why would anyone do that if they had actually acquired their BTC in legitimate ways? It's an insta-loss of 10%... He would still get his DRKs if he put the buy at 0.0041. I sold everything I had at Mintpal on him and rebought at 0.004 a few seconds later.
They could also just not care about a short term loss. There is no doubt this price will fly a lot higher after RC2 so in the long run their buy was completely reasonable.
Not disagreement with the fundamentals but why go over 10% of the current orderbook? Doesn't make any sense / it's not rational buying behavior.
Quite simply, because this is not just another coin. Masternodes require 1000DRK "deposit" to be stationary, so pretty soon, no-one will be able to have one. People who know Darkcoin are selling their kidneys for BTC to rush in.
Its a perfect whale trap.
Its is beautiful !! (... because I got over 1k just in time to never dream of)
Speaking of masternodes, I was thinking the other day that implementing DarkSend into new coins will be highly problematic in terms of safety, compared to widely distributed coins implementing it. The reason is coin distribution and the very low cost of acquiring the necessary nodes to map out the network.
Say a clone coin comes out tomorrow with DarkSend and someone acquires like 50-60-70% of its marketcap with a few BTCs to run nodes. At that instant they've mapped out most of the network by controlling the vast majority of the nodes. This can't happen with a widely distributed coin that is expensive to retrieve. So, in essence, Darkcoin and other established coins with a good marketcap, have a huge advantage in terms of DarkSend functionality that can't be replicated with any degree of safety by clonecoins - unless they force DarkSends to go through a ridiculous amounts of cycles betweens nodes (like 100 times - hoping to cross a node that isn't controlled by an evil party). So why would anyone use DarkSend on a new clonecoin that might have been acquired aggressively to map it out at a very low cost?
So the cheaper a coin is, the higher the risk. So, in a way, marketcap will indirectly determine the level of safety in transacting anonymously. IPO and premine coins will be dead on arrival for DarkSends. Having said that the NSA has a huge budget and can of course purchase a lot of DRKs but in order to gain something like 30-40-50% of the coin distribution they should first send the price to the moon (the 100$ range that we mentioned earlier
).
the price is still < $100
